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Economics of Energy Transitions

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By Geology, Energy & Minerals Science Center March 8, 2021

This task conducts research to characterize or evaluate the economics of developing technologies or markets in geologic resources. Such research can analyze the relative risks, costs, and benefits from the utilization and not just the extraction of underground resource. Economic analysis builds upon the geologic resource assessment work by other tasks in the Utilization of Carbon and other Energy Gases – Geologic Research and Assessments project.

U.S. Saline Formation Carbon Dioxide Injection and Storage Estimates

Economics Global Hydrocarbon Block1 Thumb

Estimating the pressure-limited CO2 injection and storage capacity of the United States saline formations: Effect of the presence of hydrocarbon reservoirs: International Journal of Greenhouse Gas Control, v. 79, p. 14-24.

View Publication

Economics, Helium, and the U.S. Federal Helium Reserve

Economics Global Task2 Block2 Thumb

Economics, Helium, and the U.S. Federal Helium Reserve: Summary and Outlook: Natural Resources Research, Oct. 2018, Vol. 27, Issue 4, pp. 455-477.

View Publication

The objectives of this task are to conduct relevant research needed to:

  1. Develop pressure-limited dynamic models for regional CO2 storage assessments and economic evaluations
  2. Characterize and compare the full costs of supply of anthropogenic CO2 to EOR projects to full costs of the development and delivery of new sources of natural CO2
  3. Work with the geologic energy storage task in the development of characterization and screening criteria so results of proposed assessment is amenable to economic analysis
  4. Evaluate the economic limitations; relative risks, costs, and benefits; and other issues with current and potential methods and technologies for developing and utilizing reservoir thermal energy storage (RTES) resources
  5. Modify and update existing models to be able to contribute economic analyses of potential development of coal mine methane and abandoned mine methane production projects

Below are other science projects associated with this project.

Main Science Object Thumb

Carbon and Energy Storage, Emissions and Economics (CESEE)

Carbon Dioxide (CO2) is utilized by industry to enhance oil recovery. Subsurface CO2 storage could significantly impact reduction of CO2 emissions to the atmosphere, but the economics and potential risks associated with the practice must be understood before implementing extensive programs or regulations. Utilization of other energy-related gases such as helium (He), if separated and concentrated...
By
Energy Resources Program, Geology, Energy & Minerals Science Center
Carbon and Energy Storage, Emissions and Economics (CESEE)

Carbon and Energy Storage, Emissions and Economics (CESEE)

Carbon Dioxide (CO2) is utilized by industry to enhance oil recovery. Subsurface CO2 storage could significantly impact reduction of CO2 emissions to the atmosphere, but the economics and potential risks associated with the practice must be understood before implementing extensive programs or regulations. Utilization of other energy-related gases such as helium (He), if separated and concentrated...
Learn More
Geologic Energy Storage Project Banner

Geologic Energy Storage

The United States (U.S.) domestic energy supply increasingly relies on natural gas and renewable sources; however, their efficient use is limited by supply and demand constraints. For example, a) in summer, natural gas production may outpace home heating fuel demand and b) in daytime, wind and solar electricity production may outpace industrial power requirements. Storing rather than dumping...
By
Energy Resources Program, Geology, Energy & Minerals Science Center
Geologic Energy Storage

Geologic Energy Storage

The United States (U.S.) domestic energy supply increasingly relies on natural gas and renewable sources; however, their efficient use is limited by supply and demand constraints. For example, a) in summer, natural gas production may outpace home heating fuel demand and b) in daytime, wind and solar electricity production may outpace industrial power requirements. Storing rather than dumping...
Learn More
Economics Project Science Object Representation Thumb

Economics, Energy Resources, and Future Energy Supply

The members of this project have prepared a number of analyses that constitute the economic components of energy resource assessments. They have also proposed enhancements to geologic assessment data and methods that make results of assessments immediately amenable to economic analysis. In addition, they apply theoretically sound valuation methodologies to assess the commercial value of currently...
By
Energy Resources Program, Geology, Energy & Minerals Science Center
Economics, Energy Resources, and Future Energy Supply

Economics, Energy Resources, and Future Energy Supply

The members of this project have prepared a number of analyses that constitute the economic components of energy resource assessments. They have also proposed enhancements to geologic assessment data and methods that make results of assessments immediately amenable to economic analysis. In addition, they apply theoretically sound valuation methodologies to assess the commercial value of currently...
Learn More
Abandoned Mines Assessing Emissions Task 1 Representation Thumb

Assessing Emissions from Active and Abandoned Coal Mines

The gas emission zone liberates and accumulates significant amounts of coal mine methane as a by-product of active mining. In most active mines, coal mine methane is controlled by wellbores, called gob gas ventholes. Despite the presence of these wellbores, it is not possible to capture all of the methane generated within the gas emission zone. As a consequence, a large amount of gas migrates into...
By
Energy Resources Program, Geology, Energy & Minerals Science Center
Assessing Emissions from Active and Abandoned Coal Mines

Assessing Emissions from Active and Abandoned Coal Mines

The gas emission zone liberates and accumulates significant amounts of coal mine methane as a by-product of active mining. In most active mines, coal mine methane is controlled by wellbores, called gob gas ventholes. Despite the presence of these wellbores, it is not possible to capture all of the methane generated within the gas emission zone. As a consequence, a large amount of gas migrates into...
Learn More
CO2 Task 3 Induced Seismicity Thumb

Induced Seismicity Associated with Carbon Dioxide Geologic Storage

As a national science agency, the USGS is responsible for assessing hazards from earthquakes throughout the United States. The USGS studies induced seismicity across the spectrum of energy issues: carbon sequestration, geothermal energy, and conventional and unconventional oil and gas. In the central and eastern United States, earthquakes induced by fluid injection activities contribute...
By
Energy Resources Program, Geology, Energy & Minerals Science Center
Induced Seismicity Associated with Carbon Dioxide Geologic Storage

Induced Seismicity Associated with Carbon Dioxide Geologic Storage

As a national science agency, the USGS is responsible for assessing hazards from earthquakes throughout the United States. The USGS studies induced seismicity across the spectrum of energy issues: carbon sequestration, geothermal energy, and conventional and unconventional oil and gas. In the central and eastern United States, earthquakes induced by fluid injection activities contribute...
Learn More
CO2 Task 2 Energy Related Thumb

Geologic Carbon Dioxide and Energy-related Storage, Gas Resources, and Utilization

The objectives of this task are to conduct relevant research needed to 1) evaluate helium (He) and CO2 resources; 2) support future assessments of low-thermal gases and better understand their resources and potential for use as analogues for anthropogenic CO2 storage; 3) study the feasibility of large-scale CO2 mineralization in the United States; 4) develop pressure-limited dynamic models for...
By
Energy Resources Program, Geology, Energy & Minerals Science Center
Geologic Carbon Dioxide and Energy-related Storage, Gas Resources, and Utilization

Geologic Carbon Dioxide and Energy-related Storage, Gas Resources, and Utilization

The objectives of this task are to conduct relevant research needed to 1) evaluate helium (He) and CO2 resources; 2) support future assessments of low-thermal gases and better understand their resources and potential for use as analogues for anthropogenic CO2 storage; 3) study the feasibility of large-scale CO2 mineralization in the United States; 4) develop pressure-limited dynamic models for...
Learn More

Below are publications associated with this project.

Filter Total Items: 22

Evaluating machine learning approaches to identify and predict oil and gas produced water lithium concentrations Evaluating machine learning approaches to identify and predict oil and gas produced water lithium concentrations

Recently, the demand for battery-grade lithium has substantially increased, largely due to electrification of the transportation sector. The search for new lithium sources has turned to produced waters (frequently brines), a large-volume wastewater by-product of oil and gas extraction. Geochemical analysis indicates the presence of varying concentrations of lithium from produced water...
Authors
Emil Attanasi, Bonnie McDevitt, Philip A. Freeman, Timothy Coburn
By
Energy Resources Program, Geology, Energy & Minerals Science Center

Review and synthesis of the applications of machine learning to coalbed methane recovery Review and synthesis of the applications of machine learning to coalbed methane recovery

Over the last 30 years, a substantial literature has evolved on the use of machine learning (ML) to assess, predict, and improve the efficiency of coalbed methane (CBM) recovery. In the United States, the production of CBM declined as shale gas production matured, but CBM continues to be an important energy resource in other parts of the world. ML applications that have the potential to...
Authors
Emil Attanasi, Timothy Coburn, Philip A. Freeman
By
Energy Resources Program, Geology, Energy & Minerals Science Center

Estimation of dynamic geologic CO2 storage resources in the Illinois Basin, including effects of brine extraction, anisotropy, and hydrogeologic heterogeneity Estimation of dynamic geologic CO2 storage resources in the Illinois Basin, including effects of brine extraction, anisotropy, and hydrogeologic heterogeneity

Since the vast majority of carbon dioxide (CO2) storage resources in the United States are in deep saline aquifers, optimizing the use of these saline storage resources could be crucial for efficient development of geologic CO2 storage (GCS) resources and basin- or larger-scale deployment of GCS in the country. Maximum CO2 injection rates can be enhanced by extracting brine from the CO2...
Authors
Michelle R. Plampin, Steven T. Anderson, Stefan Finsterle, Ashton M. Wiens
By
Energy Resources Program, Geology, Energy & Minerals Science Center

Machine learning provides reconnaissance-type estimates of carbon dioxide storage resources in oil and gas reservoirs Machine learning provides reconnaissance-type estimates of carbon dioxide storage resources in oil and gas reservoirs

Oil and gas reservoirs represent suitable containers to sequester carbon dioxide (CO2) in a supercritical state because they are accessible, reservoir properties are known, and they previously contained stored buoyant fluids. However, planners must quantify the relative magnitude of the CO2 storage resource in these reservoirs to formulate a comprehensive strategy for CO2 mitigation...
Authors
Emil Attanasi, Philip A. Freeman, Timothy C. Coburn
By
Energy Resources Program, Geology, Energy & Minerals Science Center

Managing basin-scale carbon sequestration: A tragedy of the commons approach Managing basin-scale carbon sequestration: A tragedy of the commons approach

The Tragedy of the Commons is a well studied problem in the literature of ecology, economics, and environmental policy which illustrates the deleterious consequences of managing common pool resources when individual and social incentives are misaligned. In this work, we apply a simple model of carbon sequestration in a deep saline aquifer by two neighboring geologic CO2 storage (GCS)...
Authors
Joseph E. Duggan, Jonathan D. Ogland-Hand, Steven T. Anderson, Richard S. Middleton
By
Energy Resources Program, Geology, Energy & Minerals Science Center

Reconnaissance survey for potential energy storage and carbon dioxide storage resources of petroleum reservoirs in western Europe Reconnaissance survey for potential energy storage and carbon dioxide storage resources of petroleum reservoirs in western Europe

Energy producers and utilities use oil and gas reservoirs for gas storage to meet peak seasonal demand or to supplement intermittent energy production. These reservoirs are also suitable for the long-term storage of carbon dioxide (CO2), a greenhouse gas. This study reports on a reconnaissance analysis of the potential magnitude of storage resources in 9424 known oil and gas reservoirs...
Authors
Emil D. Attanasi, Philip A. Freeman
By
Energy Resources Program, Geology, Energy & Minerals Science Center

This task conducts research to characterize or evaluate the economics of developing technologies or markets in geologic resources. Such research can analyze the relative risks, costs, and benefits from the utilization and not just the extraction of underground resource. Economic analysis builds upon the geologic resource assessment work by other tasks in the Utilization of Carbon and other Energy Gases – Geologic Research and Assessments project.

U.S. Saline Formation Carbon Dioxide Injection and Storage Estimates

Economics Global Hydrocarbon Block1 Thumb

Estimating the pressure-limited CO2 injection and storage capacity of the United States saline formations: Effect of the presence of hydrocarbon reservoirs: International Journal of Greenhouse Gas Control, v. 79, p. 14-24.

View Publication

Economics, Helium, and the U.S. Federal Helium Reserve

Economics Global Task2 Block2 Thumb

Economics, Helium, and the U.S. Federal Helium Reserve: Summary and Outlook: Natural Resources Research, Oct. 2018, Vol. 27, Issue 4, pp. 455-477.

View Publication

The objectives of this task are to conduct relevant research needed to:

  1. Develop pressure-limited dynamic models for regional CO2 storage assessments and economic evaluations
  2. Characterize and compare the full costs of supply of anthropogenic CO2 to EOR projects to full costs of the development and delivery of new sources of natural CO2
  3. Work with the geologic energy storage task in the development of characterization and screening criteria so results of proposed assessment is amenable to economic analysis
  4. Evaluate the economic limitations; relative risks, costs, and benefits; and other issues with current and potential methods and technologies for developing and utilizing reservoir thermal energy storage (RTES) resources
  5. Modify and update existing models to be able to contribute economic analyses of potential development of coal mine methane and abandoned mine methane production projects

Below are other science projects associated with this project.

Main Science Object Thumb

Carbon and Energy Storage, Emissions and Economics (CESEE)

Carbon Dioxide (CO2) is utilized by industry to enhance oil recovery. Subsurface CO2 storage could significantly impact reduction of CO2 emissions to the atmosphere, but the economics and potential risks associated with the practice must be understood before implementing extensive programs or regulations. Utilization of other energy-related gases such as helium (He), if separated and concentrated...
By
Energy Resources Program, Geology, Energy & Minerals Science Center
Carbon and Energy Storage, Emissions and Economics (CESEE)

Carbon and Energy Storage, Emissions and Economics (CESEE)

Carbon Dioxide (CO2) is utilized by industry to enhance oil recovery. Subsurface CO2 storage could significantly impact reduction of CO2 emissions to the atmosphere, but the economics and potential risks associated with the practice must be understood before implementing extensive programs or regulations. Utilization of other energy-related gases such as helium (He), if separated and concentrated...
Learn More
Geologic Energy Storage Project Banner

Geologic Energy Storage

The United States (U.S.) domestic energy supply increasingly relies on natural gas and renewable sources; however, their efficient use is limited by supply and demand constraints. For example, a) in summer, natural gas production may outpace home heating fuel demand and b) in daytime, wind and solar electricity production may outpace industrial power requirements. Storing rather than dumping...
By
Energy Resources Program, Geology, Energy & Minerals Science Center
Geologic Energy Storage

Geologic Energy Storage

The United States (U.S.) domestic energy supply increasingly relies on natural gas and renewable sources; however, their efficient use is limited by supply and demand constraints. For example, a) in summer, natural gas production may outpace home heating fuel demand and b) in daytime, wind and solar electricity production may outpace industrial power requirements. Storing rather than dumping...
Learn More
Economics Project Science Object Representation Thumb

Economics, Energy Resources, and Future Energy Supply

The members of this project have prepared a number of analyses that constitute the economic components of energy resource assessments. They have also proposed enhancements to geologic assessment data and methods that make results of assessments immediately amenable to economic analysis. In addition, they apply theoretically sound valuation methodologies to assess the commercial value of currently...
By
Energy Resources Program, Geology, Energy & Minerals Science Center
Economics, Energy Resources, and Future Energy Supply

Economics, Energy Resources, and Future Energy Supply

The members of this project have prepared a number of analyses that constitute the economic components of energy resource assessments. They have also proposed enhancements to geologic assessment data and methods that make results of assessments immediately amenable to economic analysis. In addition, they apply theoretically sound valuation methodologies to assess the commercial value of currently...
Learn More
Abandoned Mines Assessing Emissions Task 1 Representation Thumb

Assessing Emissions from Active and Abandoned Coal Mines

The gas emission zone liberates and accumulates significant amounts of coal mine methane as a by-product of active mining. In most active mines, coal mine methane is controlled by wellbores, called gob gas ventholes. Despite the presence of these wellbores, it is not possible to capture all of the methane generated within the gas emission zone. As a consequence, a large amount of gas migrates into...
By
Energy Resources Program, Geology, Energy & Minerals Science Center
Assessing Emissions from Active and Abandoned Coal Mines

Assessing Emissions from Active and Abandoned Coal Mines

The gas emission zone liberates and accumulates significant amounts of coal mine methane as a by-product of active mining. In most active mines, coal mine methane is controlled by wellbores, called gob gas ventholes. Despite the presence of these wellbores, it is not possible to capture all of the methane generated within the gas emission zone. As a consequence, a large amount of gas migrates into...
Learn More
CO2 Task 3 Induced Seismicity Thumb

Induced Seismicity Associated with Carbon Dioxide Geologic Storage

As a national science agency, the USGS is responsible for assessing hazards from earthquakes throughout the United States. The USGS studies induced seismicity across the spectrum of energy issues: carbon sequestration, geothermal energy, and conventional and unconventional oil and gas. In the central and eastern United States, earthquakes induced by fluid injection activities contribute...
By
Energy Resources Program, Geology, Energy & Minerals Science Center
Induced Seismicity Associated with Carbon Dioxide Geologic Storage

Induced Seismicity Associated with Carbon Dioxide Geologic Storage

As a national science agency, the USGS is responsible for assessing hazards from earthquakes throughout the United States. The USGS studies induced seismicity across the spectrum of energy issues: carbon sequestration, geothermal energy, and conventional and unconventional oil and gas. In the central and eastern United States, earthquakes induced by fluid injection activities contribute...
Learn More
CO2 Task 2 Energy Related Thumb

Geologic Carbon Dioxide and Energy-related Storage, Gas Resources, and Utilization

The objectives of this task are to conduct relevant research needed to 1) evaluate helium (He) and CO2 resources; 2) support future assessments of low-thermal gases and better understand their resources and potential for use as analogues for anthropogenic CO2 storage; 3) study the feasibility of large-scale CO2 mineralization in the United States; 4) develop pressure-limited dynamic models for...
By
Energy Resources Program, Geology, Energy & Minerals Science Center
Geologic Carbon Dioxide and Energy-related Storage, Gas Resources, and Utilization

Geologic Carbon Dioxide and Energy-related Storage, Gas Resources, and Utilization

The objectives of this task are to conduct relevant research needed to 1) evaluate helium (He) and CO2 resources; 2) support future assessments of low-thermal gases and better understand their resources and potential for use as analogues for anthropogenic CO2 storage; 3) study the feasibility of large-scale CO2 mineralization in the United States; 4) develop pressure-limited dynamic models for...
Learn More

Below are publications associated with this project.

Filter Total Items: 22

Evaluating machine learning approaches to identify and predict oil and gas produced water lithium concentrations Evaluating machine learning approaches to identify and predict oil and gas produced water lithium concentrations

Recently, the demand for battery-grade lithium has substantially increased, largely due to electrification of the transportation sector. The search for new lithium sources has turned to produced waters (frequently brines), a large-volume wastewater by-product of oil and gas extraction. Geochemical analysis indicates the presence of varying concentrations of lithium from produced water...
Authors
Emil Attanasi, Bonnie McDevitt, Philip A. Freeman, Timothy Coburn
By
Energy Resources Program, Geology, Energy & Minerals Science Center

Review and synthesis of the applications of machine learning to coalbed methane recovery Review and synthesis of the applications of machine learning to coalbed methane recovery

Over the last 30 years, a substantial literature has evolved on the use of machine learning (ML) to assess, predict, and improve the efficiency of coalbed methane (CBM) recovery. In the United States, the production of CBM declined as shale gas production matured, but CBM continues to be an important energy resource in other parts of the world. ML applications that have the potential to...
Authors
Emil Attanasi, Timothy Coburn, Philip A. Freeman
By
Energy Resources Program, Geology, Energy & Minerals Science Center

Estimation of dynamic geologic CO2 storage resources in the Illinois Basin, including effects of brine extraction, anisotropy, and hydrogeologic heterogeneity Estimation of dynamic geologic CO2 storage resources in the Illinois Basin, including effects of brine extraction, anisotropy, and hydrogeologic heterogeneity

Since the vast majority of carbon dioxide (CO2) storage resources in the United States are in deep saline aquifers, optimizing the use of these saline storage resources could be crucial for efficient development of geologic CO2 storage (GCS) resources and basin- or larger-scale deployment of GCS in the country. Maximum CO2 injection rates can be enhanced by extracting brine from the CO2...
Authors
Michelle R. Plampin, Steven T. Anderson, Stefan Finsterle, Ashton M. Wiens
By
Energy Resources Program, Geology, Energy & Minerals Science Center

Machine learning provides reconnaissance-type estimates of carbon dioxide storage resources in oil and gas reservoirs Machine learning provides reconnaissance-type estimates of carbon dioxide storage resources in oil and gas reservoirs

Oil and gas reservoirs represent suitable containers to sequester carbon dioxide (CO2) in a supercritical state because they are accessible, reservoir properties are known, and they previously contained stored buoyant fluids. However, planners must quantify the relative magnitude of the CO2 storage resource in these reservoirs to formulate a comprehensive strategy for CO2 mitigation...
Authors
Emil Attanasi, Philip A. Freeman, Timothy C. Coburn
By
Energy Resources Program, Geology, Energy & Minerals Science Center

Managing basin-scale carbon sequestration: A tragedy of the commons approach Managing basin-scale carbon sequestration: A tragedy of the commons approach

The Tragedy of the Commons is a well studied problem in the literature of ecology, economics, and environmental policy which illustrates the deleterious consequences of managing common pool resources when individual and social incentives are misaligned. In this work, we apply a simple model of carbon sequestration in a deep saline aquifer by two neighboring geologic CO2 storage (GCS)...
Authors
Joseph E. Duggan, Jonathan D. Ogland-Hand, Steven T. Anderson, Richard S. Middleton
By
Energy Resources Program, Geology, Energy & Minerals Science Center

Reconnaissance survey for potential energy storage and carbon dioxide storage resources of petroleum reservoirs in western Europe Reconnaissance survey for potential energy storage and carbon dioxide storage resources of petroleum reservoirs in western Europe

Energy producers and utilities use oil and gas reservoirs for gas storage to meet peak seasonal demand or to supplement intermittent energy production. These reservoirs are also suitable for the long-term storage of carbon dioxide (CO2), a greenhouse gas. This study reports on a reconnaissance analysis of the potential magnitude of storage resources in 9424 known oil and gas reservoirs...
Authors
Emil D. Attanasi, Philip A. Freeman
By
Energy Resources Program, Geology, Energy & Minerals Science Center
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